Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Tight liquidity NBB
Cash and receivables cover 46 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
NORTHFREEZE from Evergem, company number BE0436056075, closed financial year 2025 with a result of € -2.4 million after tax. For that financial year NORTHFREEZE recorded revenue of € 11.2 million and equity of € 4.8 million. Compared with financial year 2024, the result moved from € 57,394 to € -2.4 million. The company made a loss. The company holds a healthy buffer. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on June 29, 2026.
€ 4.8 million
▼ 33% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -2.4 million
▼ still € 57,394 profit in 2024
Profit after tax over the fiscal year.
€ 771,223
▲ 5% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 4.4 million.
People and assets in 2025
43
▲ 6.9 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 3.4 million
▲ 36% vs 2024
€ 78,900 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 770,228
▲ 113% vs 2024
Of which on lease € 599,951.
Debts at end 2025
€ 4.3 million
▼ 2% vs 2024
€ 3.8 million is repaid this year. At this pace the long-term loan is gone in ≈ 1 years.
€ 3.8 million
▲ 184% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 148 days on average.
€ 424,480
▲ 83% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 8,296,756 | € 8,787,552 | € 8,447,139 | € 11,249,465 | ▲ 33% |
| Profit after taxes | € 1,380,434 | € 235,180 | € 57,394 | € -2,375,735 | ▼ € 2.4 million |
| Equity | € 6,930,447 | € 7,165,627 | € 7,223,021 | € 4,847,286 | ▼ 33% |
| Total debts | € 7,255,277 | € 8,830,140 | € 8,803,513 | € 12,307,150 | ▲ 40% |
| Cash | € 1,228,907 | € 808,481 | € 733,718 | € 771,223 | ▲ 5% |
| Land & buildings | € 2,921,949 | € 2,692,772 | € 2,451,242 | € 2,283,897 | ▼ 7% |
| Retained profit | € 6,484,239 | € 6,719,419 | € 6,776,813 | € 4,401,078 | ▼ 35% |
| Bank debt | € 5,197,665 | € 5,225,277 | € 4,368,652 | € 4,284,040 | ▼ 2% |
| Balance sheet total | € 14,819,467 | € 16,576,695 | € 16,557,544 | € 17,635,555 | ▲ 7% |
| Employees (FTE) | 29.8 | 34.2 | 36.1 | 43 | ▲ 6.9 |
Key figures of NORTHFREEZE, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to NORTHFREEZE?
What happened at NORTHFREEZE in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Michael Meyers stepped down as director. NBB
- Elizabeth Gildea stepped down as director. NBB
- Venja BV stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 2.4 million (▼ € 2.4 million vs 2024). Source: NBB ↗
- Rai Hardip stepped down as director. NBB
- Elizabeth Gildea became a director. NBB
- Reësta BV stepped down as director. NBB
- Michael Meyers became a director. NBB
In short
From € 1.4 million profit in 2022 to € 2.4 million loss in 2025.
Paid € 493,097 in corporate taxes since 2022.
Best year ever: 2022, with € 1.4 million profit.
Pays suppliers within 148 days on average.
Management
The stake of Cube Cold Europe Belgium Bidco comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
NORTHFREEZEThe shares are held by Cube Cold Europe Belgium Bidco (100%). It owns 100% of Nortraffic and 100% of Nortraffic Food Service itself.
Directors
According to the 2025 annual accounts
Director · represented by Boone Dirk Camiel
Also active at: BOONE MARC & DIRK, North-Link Agencies, DE NOORDRIJ, NORTRAFFIC FOOD SERVICE, NORTRAFFIC
since 2022 · until 2025
Rai Hardip
Director
Also active at: Transport Herve, FRABER LOGISTICS, HERVE COLDSTORE, DE NOORDRIJ, NORTRAFFIC FOOD SERVICE, NORTRAFFIC
since 2024 · until 2025
since 2025 · until 2030
Elizabeth Gildea
Managing director
Also active at: DE NOORDRIJ, NORTRAFFIC FOOD SERVICE, Cube Cold Europe Belgium Bidco, NORTRAFFIC
since 2025 · until 2030
Director · represented by Van Der Vennet Jacky
Also active at: North-Link Agencies, DE NOORDRIJ, NORTRAFFIC FOOD SERVICE, NORTRAFFIC
since 2022 · until 2027
Shareholders
Participations
100%
Establishments
Establishment units
Physical locations of this company
Durmakker 12
9940 Evergem
Pathoekeweg 130
8000 Brugge
Active since 1 March 2007
Lossing 11
2260 Westerlo
Active since 14 January 2016
Gipsweg 13 box Unit G
9940 Evergem
Active since 1 September 2022
Baron Van Loolaan 5
9940 Evergem
Active since 1 February 2025
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 2 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0436.056.075
- VAT number
- BE 0436.056.075
- Registered office
- Durmakker 12, 9940 Evergem
- Names & denominations
- NORTHFREEZE
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 14 December 1988
- Peppol
- Active · Active since 4 Dec 2025
- Activities · NACE
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